Advanced Biofuel Market Growth, Demand & Outlook to 2025
Advanced Biofuel Market,
Advanced Biofuel Market Trends,
Global Advanced Biofuel Market
Advanced Biofuel Market, By Type (Cellulosic Ethanol, Biodiesel, Butanol, BioDME, Others), By
Source (Algae, Animal Fat, Municipal Waste, Crop Residues, Energy Crops, Others), By Process
(Biochemical Conversion And Thermal Conversion) – Global Industry Insights, Trends And
Forecast, 2017-2025
Advanced Biofuels Market: Introduction
Advanced biofuels are made from lignocellulosic biomass, such as woody crops, crop residues,
energy grasses, or algae among others. According to the International Energy Agency (IEA),
advanced biofuels are produced from cellulose, hemicellulose or lignin. The development of
advanced biofuel is due to various problems associated with traditional biofuels and
greenhouse gas emissions through various sources such as nuclear waste, unstable and
fluctuating foreign fuel sources such as landfill gas, coal among others and fossil fuel. Various
technological advancement and programs by United Nations Conference on Trade and
Development (UNCTAD) has helped with the production of advanced biofuel in commercial
scale, which is expected to provide market opportunity with the use of biomass. According to
U.S. Energy Information Administration (EIA), in 2016, advanced biofuel produced from nonfood crops such as wood, waste biomass, or agricultural waste helps to minimize 90% of
greenhouse gas emissions. Owing to these factors the advanced biofuel market size is expected
to gain major traction during the forecast period.
Advanced Biofuels: The Eco-Friendly Solution
According to the UNCTAD, Advanced biofuel advancement could be highly seen by the end of
2015 due to various factors such as de-carbonization of specific sectors of the economy such as
transport, and also providing countries dependent on oil imports with an alternative to create
new opportunities and enhance its energy security. Government initiatives in North America
and Europe such as the Renewable Fuel Standards (RFS) in the U.S. and other financial
initiatives has driven various manufacturers towards the adoption and production of advanced
biofuels. Some of the major restraints in the advanced biofuel market are process cost,
feedstock cost, and high initial capital investment among others.
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Advanced biofuel are mainly developed to outrun the disadvantages from first-generation fuels
such as bio-alcohols, biodiesel, vegetable oil, syngas, and biogas coupled with its negative
environmental effects. According to the California Air Resources Board (CARB), liquid biofuels
are produced from sources which are non-petroleum and reduce carbon amount in
comparision to petroleum based fuel. The advanced biofuel market size is expected to grow
due to increase in renewable sources and government support. For Instance, the Advanced
Biofuels Investment Readiness (ABIR) program was launched by the Australian Government
with an investment of US$ 10 million, which was used for the development of advanced
biofuels and in projects such as high-energy algal fuels project by the James Cook University.
Owing to these factor the advanced biofuel market share is expected to grow during the
forecast period.
Regional Acumens:
North America is expected to be the largest market for the global advanced biofuel market
during the forecast period. According to UNCTAD, in 2015, 400 million litres of biofuels
corresponds to Renewable Volume Obligations (RVOs) with a utilization rate of 25%. According
to United States Energy Information Agency, in 2015, 115 commercial facilities were identified
to be working on advanced biofuels in the United States which accumulates to a capacity of
1.37 billion litres of advanced biofuels. Some of these companies are EcoSynthetix,
NatureWorks LLC, and Aemetis Inc among others. Owing to these factor North America is
expected to have a lion’s share in the global advanced biofuel market, and Europe as the
second largest during the forecast period.
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Major Players:
Various expansions of manufacturing units is expected to propel the advanced biofuels market.
For instance, POET-DSM Advanced Biofuels Llc, has planned its manufacturing units over
Emmetsburg, Iowa, in 2017, for the expansion of its enzyme manufacturing facility. Key players
operating in the field of advanced biofuel market include Oberon Fuels, Sundrop Fuels, Inc,
POET-DSM Advanced Biofuels Llc, and DuPont Industrial Bioscience among others.
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